// Lovehoney’s new CEO is Sarah Warby
// She is a former marketing director for Sainsbury’s and Heineken
// Sarah Warby will join Lovehoney in September
Lovehoney has appointed Sainsbury’s former marketing director Sarah Warby as its new chief executive.
Warby will join the online sexual wellbeing retailer in mid-September.
Her career highlights include her marketing stint with Sainsbury’s for five years until 2017, and a marketing director role with Heineken for fours years prior to that.
Lovehoney co-founders Richard Longhurst and Neal Slateford will step down from the day-to-day running of the retailer.
However, they will remain as directors on Lovehoney’s board alongside Philippe Jacobs and Jacob Polny from Telemos Capital, the firm that acquired a majority stake in the business last year.
Warby’s remit as chief executive will mainly focus on taking Lovehoney through its next phase of growth.
“Lovehoney is a company with an enviable brand reputation both in the industry and with its customers,” she said.
“I’m excited to be part of the next chapter of this amazing growth story and believe we can fulfill Lovehoney’s ambitions for global category leadership.
“I’m looking forward to joining and getting to know the many talented people that have helped Lovehoney achieve its impressive growth so far.”
Founded in 2002, Lovehoney says it has grown revenues to more than £100 million.
However, its most recent documents filed at Companies House for the year ending March 2018 indicated that annual turnover increased 17 per cent year-on-year to £84.8 million.
Meanwhile, operating profit and pre-tax profit both came in at £9.2 million, after recording year-on-year growth of 14.1 per cent and 11.6 per cent respectively.
“We’re thrilled that Sarah is joining Lovehoney to take the business to the next level,” Longhurst and Slateford said in a statement.
“Having someone with her quality and breadth of experience is a real asset to our company and we look forward to watching Lovehoney develop further under her leadership.”